Day 225 · Mon, May 31, 2027 · Five editions

Mon, May 31, 2027

Five emails a day: 00:00 Night / 07:00 Morning / 12:00 Noon / 17:00 Evening / 21:00 Figures

00:00 Night · Investing · Chinese classics

桓寬:Discourses on Salt and Iron, Volume 1, 禁耕第五, Entry 3

桓寬《鹽鐵論》· 卷1·禁耕第五 · Investing · Human nature · Wealth · Decision

大夫曰:「山海有禁,而民不傾;貴賤有平,而民不疑。縣官設衡立準,人從所欲,雖使五尺童子適市,莫之能欺。今罷去之,則豪民擅其用而專其利。決市閭巷,高下在口吻,貴賤無常,端坐而民豪,是以養強抑弱而藏於跖也。強養弱抑,則齊民消;若眾穢之盛而害五穀。一家害百家,不在朐邴,如何也?」

Source: https://zh.wikisource.org/wiki/%E9%B9%BD%E9%90%B5%E8%AB%96/%E5%8D%B701
卷1·禁耕第五·第3则

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

Does this passage change one judgment about money or risk today?

07:00 Morning · Health · Chinese classics

管仲(舊題):Guanzi, 第64篇形勢解, Entry 5

管仲(舊題)《管子》· 第64篇形勢解 · Health · Leadership · Growth · Action

春者陽氣始上,故萬物生。夏者陽氣畢上,故萬物長。秋者陰氣始下,故萬物收。冬者陰氣畢下,故萬物藏。故春夏生長,秋冬收藏,四時之節也。賞賜刑罰,主之節也。四時未嘗不生殺也,主未嘗不賞罰也。故曰:「春秋冬夏,不更其節也。」

Source: https://zh.wikisource.org/wiki/%E7%AE%A1%E5%AD%90/%E7%AC%AC64%E7%AF%87%E5%BD%A2%E5%8B%A2%E8%A7%A3
第64篇形勢解·第5则

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

What does this passage say about your body or mood today?

12:00 Noon · Investing · Chinese classics

桓寬:Discourses on Salt and Iron, Volume 10, 周秦第五十七, Entry 4

桓寬《鹽鐵論》· 卷10·周秦第五十七 · Investing · Leadership · Cognition · Decision

文學曰:「紂為炮烙之刑,而秦有收帑之法,趙高以峻文決罪於內,百官以峭法斷割於外,死者相枕席,刑者相望,百姓側目重足,不寒而栗。詩云:『謂天蓋高,不敢不局。謂地蓋厚,不敢不蹐。哀今之人,胡為虺蜥!』方此之時,豈特冒蹈刃哉?然父子相背,兄弟相嫚,至於骨肉相殘,上下相殺。非刑輕而罰不必,令太嚴而仁恩不施也。故政寬則下親其上,政嚴則民謀其主,晉厲以幽,二世見殺,惡在峻法之不犯,嚴家之無悍虜也?聖人知之,是以務和而不務威。故高皇帝約秦苛法,以慰怨毒之民,而長和睦之心,唯恐刑之重而德之薄也。是以恩施無窮,澤流後世。商鞅、吳起以秦、楚之法為輕而累之,上危其主,下沒其身,或非特慈母乎!」

Source: https://zh.wikisource.org/wiki/%E9%B9%BD%E9%90%B5%E8%AB%96/%E5%8D%B710
卷10·周秦第五十七·第4则

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

Does this passage change one judgment about money or risk today?

17:00 Evening · Career · Chinese classics

司馬光:Zizhi Tongjian, Volume 197, Entry 28

司馬光《資治通鑑》· 卷197·太宗文武大聖大廣孝皇帝中之下貞觀十七年(癸卯,公元六四三年) · Leadership · Health · Action · Character

八月,庚戌,以洛州都督張亮為刑部尚書,參預朝政;以左衛大將軍、太子右衛率李大亮為工部尚書。大亮身居三職,宿衛兩宮,恭儉忠謹,每宿直,必坐寐達旦。房玄齡甚重之,每稱大亮有王陵、周勃之節,可當大位。

Source: https://zh.wikisource.org/wiki/%E8%B3%87%E6%B2%BB%E9%80%9A%E9%91%91/%E5%8D%B7197
卷197·太宗文武大聖大廣孝皇帝中之下貞觀十七年(癸卯,公元六四三年)·第28则

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

What does this passage say about how you work today?

21:00 Figures · Investing · Modern investor letters

Warren Buffett:Berkshire 1988 Letter, Excerpt 1

Warren Buffett《Berkshire Hathaway 1988 Letter to Shareholders》· 1988 Chairman's Letter · Investing

We’ve emphasized in past reports that what counts, however, is intrinsic business value - the figure, necessarily an estimate, indicating what all of our constituent businesses are worth. By our calculations, Berkshire’s intrinsic business value significantly exceeds its book value. Over the 24 years, business value has grown somewhat faster than book value; in 1988, however, book value grew the faster, by a bit.

Source: https://www.berkshirehathaway.com/letters/1988.html
1988 Chairman's Letter, excerpt 1

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

Does this passage change one judgment about money or risk today?